NEW YORK ( TheStreet) -- With the precious metal markets closed in the U.S. for Memorial day---and a bank holiday in the U.K.---there was very little activity in any market yesterday---and the principle reason for today's column is to post the stories that have accumulated over the weekend, as I have quite a few. Here are the four charts. Volumes were fumes and vapours---and there wasn't much in the way of roll-overs out of the June gold contract. Friday's big volume day in gold was most likely traders unloading/rolling positions before the long weekend in both the U.K. and the U.S. The closing prices are basically irrelevant. Net gold volume on Monday was was a bit under 15,000 contracts---and silver volume was around 4,700 contracts. Just for fun I thought I'd check platinum and palladium volumes---and they were 2,200 contracts traded in platinum---and palladium net volume was only 450 contracts. June is a delivery month for palladium, as well as gold---and gross volume was only 900 contracts. You can see that Pl and Pa are tiny markets compared to gold and silver---and it's not hard for the four U.S. bullion banks in platinum---and '3 or less' U.S bullion banks in palladium, to control prices there, either. The May Bank Participation Report showed that the four U.S. banks were net short 18% of the entire Comex platinum market---and '3 or less' U.S. bullion banks were short 20.5% of the Comex palladium market. There was a story over at the miningweekly.com Internet site on the weekend that was questioning how much 'transparency' there was in the platinum market, as well as the gold market. Another good question with an answer that's hiding in plain site. The story is posted in the Critical Reads section, but if you can't wait, the link is here. The dollar index closed in New York late Friday afternoon at 80.35. It got as high as 80.42 during the early going on Monday morning in Far East trading, but by late afternoon trading London time, it was down to 80.25. It gained a handful of basis points going into the close---and finished the Monday session at 80.29. Here's the chart for Monday---and the previous Friday. Obviously there were no reports from any of the usual sources on Monday, so I here is today's list of stories. The final edit is yours.
This is an abbreviated version of Ed Steer's Gold & Silver DailySign-up to have to the complete market review delivered to your email inbox each morning for free.